American Lifestyles is an annual Mintel Report that serves as an overview of consumer behavior and spending for the year. It includes a review of demographic trends and economic factors, as well as analysis on Americans’ spending and savings plans.
The Report also uses findings from other Mintel Reports published throughout the year to provide an analysis of opportunities and challenges across 17 consumer categories.
Broader societal trends reveal a decline in interpersonal trust and trust in information sources such as media and government, and fluctuating trust in products and service claims. Mintel’s consumer research finds that this erosion is driven by factors including political polarization, economic uncertainty, the increasing variety and complexity of products and services and the proliferation of misinformation. Recent Black Swan events such as the Russia-Ukraine war, COVID-19 pandemic, and US economic and social policy swings compound uncertainty, further deteriorating consumers’ confidence in their ability to make decisions.
Looking ahead, societal trust in the US could unfold in several plausible scenarios: continued general erosion, stabilization around select institutions, fragmentation into localized trust networks. These scenarios lead to a fragmented and unequal trust landscape. Understanding these dynamics and making a proactive effort towards building trust with their target audiences will become crucial for brands – and for society as a whole – to maintain trust in an ever-changing, complex society.
This report was written by Hiro Takemasa, Senior Consumer Lifestyles Analyst at Mintel. Hiro draws from more than a decade of experience in marketing, R&D, regulatory and market research in CPG and specialty chemical industries. Hiro has an MBA in Marketing & MS in Biochemistry from the University of Illinois.
As economic and political uncertainty takes hold, maintaining consumer trust in information, quality and intentions becomes even more critical for brands.
Hiro Takemasa
Senior Consumer Lifestyles Analyst
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